Question
Net income was $321,100 for the year. Throughout the year the company had outstanding 26,000 shares of $2.00, $100 par value preferred stock and 117,000
Net income was $321,100 for the year. Throughout the year the company had outstanding 26,000 shares of $2.00, $100 par value preferred stock and 117,000 shares of common stock.
Calculate basic earnings per share of common stock for the year.(Round "Earnings per share-basic" to 2 decimal places.)
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
